Another ruling against MERS in a California court - saying they have no basis for foreclosing on property!
This is exciting, that judges are continuing to rule against MERS and the information is getting out more and more about MERS having no standing against mortgages, due to there not being an "ownership of the mortgage" verified.
Here is previous information about MERS, I had put together and has almost every link, you need to look up information and Why MERS is Fraud!
http://sherriequestioningall.blogspot.com/2010/07/mers-mortgage-electronic-registration.html
THIS IS EXCITING!
From this site: http://www.msfraud.org/
California is following in the footsteps of Tennessee. Recent Sup. Ct. rulings held that MERS is not the holder in due course (real party in interest) of any property and never was. This can have devastating repercussions for the mortgage industry, not just MERS, because there is no valid chain of title. People who are being foreclosed upon, or have been foreclosed upon, now have an equitable remedy. These people should now be able to win in court and have their mortgage nightmares settled. Some people are able to keep their homes, as banks fear losing far more in class-action suits. Now California is getting in on the action and suing MERS for filing false records in every county in the state since MERS began over 10 years ago. Carrying a possible fine of $5-$10K a pop, this could amount to millions and possibly billions of dollars in penalties against MERS. This is money the counties desperately need. This could mean that anyone with a mortgage may have it immediately settled and the true owner will get the title free and clear due to fraud, which has no statute of limitation. Lawful owners will have recourse to sue for fraudulent foreclosure. Let's see what happens.
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